NORTH ANODVER Real Estate Market Trends: Week of June 15th, 2015

Here is a snapshot of real estate market for single family homes in NORTH ANODVER, MA for the week of June 15th, 2015. (Source: AltosResearch).

Data provided by ©2005-2014 Altos Research LLC.

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.

The median list price in NORTH ANODVER, MA  this week is $649,000. The 83 properties have been on the market for an average of 59 days.

The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.

Market appears to have begun to cool. As we're still notably in the Seller's zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer's zone.

Median Price: Despite this week's down tic, the price trend in this zip code remains upward for several weeks. We're within sight of the market peak, and we'll assume this week's change is just randomness unless we see a persistent downward push of the Market Action Index into the Buyer's zone.

Price per Square Foot: In a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that new homes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.

Market Action Index: The NORTH ANDOVER, 01845 market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 45.78; indicating very little supply relative to the demand.

Days on Market: The properties have been on the market for an average of 59 days. Half of the listings have come newly on the market in the past 28 or so days.

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